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USD Econ Professor, Alan Gin, Explains the Home Sale Slump

Los Angeles Times

San Diego home sales recently dropped to their lowest level in years, likely much more to do with affordability constraints than the economy, but it might be a sign of things to come.

In June there were 3,927 home sales in the county, CoreLogic said, which is the lowest in four years. However, all drivers of the real estate market are good — job growth, low unemployment, rising wages — and June’s median home price hit its highest point ever.